Workiva (WK) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 26, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-36773
Entity Registrant Name	WORKIVA INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-2509828
Entity Address, Address Line One	2900 University Blvd
Entity Address, City or Town	Ames
Entity Address, State or Province	IA
Entity Address, Postal Zip Code	50010
City Area Code	888
Local Phone Number	275-3125
Title of 12(b) Security	Class A common stock, par value $.001
Trading Symbol	WK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001445305
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		51,394,455
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		3,845,583

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 267,897	$ 256,100
Marketable securities	472,956	557,622
Accounts receivable, net of allowance for doubtful accounts of $1,200 and $1,163 at June 30, 2024 and December 31, 2023, respectively	121,359	125,193
Deferred costs	41,994	39,023
Other receivables	6,877	7,367
Prepaid expenses and other	21,307	23,631
Total current assets	932,390	1,008,936
Property and equipment, net	22,268	24,282
Operating lease right-of-use assets	10,535	12,642
Deferred costs, non-current	40,169	33,346
Goodwill	199,202	112,097
Intangible assets, net	31,533	22,892
Other assets	6,592	4,665
Total assets	1,242,689	1,218,860
Current liabilities
Accounts payable	8,229	5,204
Accrued expenses and other current liabilities	113,339	97,921
Deferred revenue	384,105	380,843
Finance lease obligations	547	532
Total current liabilities	506,220	484,500
Convertible senior notes, non-current	763,672	762,455
Deferred revenue, non-current	27,694	36,177
Other long-term liabilities	221	178
Operating lease liabilities, non-current	8,856	10,890
Finance lease obligations, non-current	13,773	14,050
Total liabilities	1,320,436	1,308,250
Stockholders’ deficit
Preferred stock, $0.001 par value per share, 100,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in-capital	608,804	562,942
Accumulated deficit	(681,876)	(652,641)
Accumulated other comprehensive (loss) income	(4,730)	255
Total stockholders’ deficit	(77,747)	(89,390)
Total liabilities and stockholders’ deficit	1,242,689	1,218,860
Class A Common Stock
Stockholders’ deficit
Common stock	51	50
Class B Common Stock
Stockholders’ deficit
Common stock	$ 4	$ 4

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Allowance for doubtful accounts	$ 1,200	$ 1,163
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, share authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	51,068,836	50,333,435
Common stock, shares outstanding (in shares)	51,068,836	50,333,435
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, share authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	3,845,583	3,845,583
Common stock, shares outstanding (in shares)	3,845,583	3,845,583

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue
Total revenue	$ 177,503	$ 155,022	$ 353,170	$ 305,211
Cost of revenue
Total cost of revenue	41,172	39,504	82,695	78,022
Gross profit	136,331	115,518	270,475	227,189
Operating expenses
Research and development	48,408	42,697	93,903	88,488
Sales and marketing	84,697	71,882	167,330	142,592
General and administrative	26,375	23,627	50,674	65,638
Total operating expenses	159,480	138,206	311,907	296,718
Loss from operations	(23,149)	(22,688)	(41,432)	(69,529)
Interest income	10,336	4,535	20,791	8,252
Interest expense	(3,237)	(1,499)	(6,469)	(3,000)
Other (expense) income, net	(45)	(439)	41	(1,379)
Loss before provision for income taxes	(16,095)	(20,091)	(27,069)	(65,656)
Provision for income taxes	1,453	819	2,166	1,404
Net loss	$ (17,548)	$ (20,910)	$ (29,235)	$ (67,060)
Net loss per common share:
Basic (in dollars per share)	$ (0.32)	$ (0.39)	$ (0.53)	$ (1.25)
Diluted (in dollars per share)	$ (0.32)	$ (0.39)	$ (0.53)	$ (1.25)
Weighted-average common shares outstanding - basic (in shares)	55,177,162	54,009,963	55,046,507	53,850,986
Weighted-average common shares outstanding - diluted (in shares)	55,177,162	54,009,963	55,046,507	53,850,986
Subscription and support
Revenue
Total revenue	$ 160,735	$ 136,772	$ 315,714	$ 266,436
Cost of revenue
Total cost of revenue	27,945	25,083	55,872	49,216
Professional services
Revenue
Total revenue	16,768	18,250	37,456	38,775
Cost of revenue
Total cost of revenue	$ 13,227	$ 14,421	$ 26,823	$ 28,806

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (17,548)	$ (20,910)	$ (29,235)	$ (67,060)
Other comprehensive (loss) income
Foreign currency translation adjustment	(728)	308	(3,211)	2,009
Unrealized (loss) gain on available-for-sale securities	(367)	(316)	(1,774)	1,263
Other comprehensive (loss) income	(1,095)	(8)	(4,985)	3,272
Comprehensive loss	$ (18,643)	$ (20,918)	$ (34,220)	$ (63,788)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock (Class A and B)	Additional Paid-in-Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning of the period (in shares) at Dec. 31, 2022		52,652,000
Beginning of the period at Dec. 31, 2022	$ 5,983	$ 53	$ 537,732	$ (6,686)	$ (525,116)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	38,042		38,042
Issuance of common stock upon exercise of stock options (in shares)		102,000
Issuance of common stock upon exercise of stock options	1,457		1,457
Issuance of common stock under employee stock purchase plan (in shares)		107,000
Issuance of common stock under employee stock purchase plan	5,546		5,546
Issuance of restricted stock units (in shares)		449,000
Tax withholding related to net share settlements of stock-based compensation awards (in shares)		(78,000)
Tax withholding related to net share settlements of stock-based compensation awards	(7,228)		(7,228)
Net loss	(46,150)				(46,150)
Other comprehensive (loss) income	3,280			3,280
End of period (in shares) at Mar. 31, 2023		53,232,000
End of period at Mar. 31, 2023	930	$ 53	575,549	(3,406)	(571,266)
Beginning of the period (in shares) at Dec. 31, 2022		52,652,000
Beginning of the period at Dec. 31, 2022	5,983	$ 53	537,732	(6,686)	(525,116)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(67,060)
Other comprehensive (loss) income	3,272
End of period (in shares) at Jun. 30, 2023		53,533,000
End of period at Jun. 30, 2023	157	$ 54	595,693	(3,414)	(592,176)
Beginning of the period (in shares) at Mar. 31, 2023		53,232,000
Beginning of the period at Mar. 31, 2023	930	$ 53	575,549	(3,406)	(571,266)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	20,610		20,610
Issuance of common stock upon exercise of stock options (in shares)		47,000
Issuance of common stock upon exercise of stock options	747	$ 1	746
Issuance of restricted stock units (in shares)		266,000
Tax withholding related to net share settlements of stock-based compensation awards (in shares)		(12,000)
Tax withholding related to net share settlements of stock-based compensation awards	(1,212)		(1,212)
Net loss	(20,910)				(20,910)
Other comprehensive (loss) income	(8)			(8)
End of period (in shares) at Jun. 30, 2023		53,533,000
End of period at Jun. 30, 2023	157	$ 54	595,693	(3,414)	(592,176)
Beginning of the period (in shares) at Dec. 31, 2023		54,179,000
Beginning of the period at Dec. 31, 2023	(89,390)	$ 54	562,942	255	(652,641)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	23,007		23,007
Issuance of common stock upon exercise of stock options (in shares)		19,000
Issuance of common stock upon exercise of stock options	302	$ 1	301
Issuance of common stock under employee stock purchase plan (in shares)		88,000
Issuance of common stock under employee stock purchase plan	7,113		7,113
Issuance of restricted stock units (in shares)		590,000
Tax withholding related to net share settlements of stock-based compensation awards (in shares)		(91,000)
Tax withholding related to net share settlements of stock-based compensation awards	(8,611)		(8,611)
Net loss	(11,687)				(11,687)
Other comprehensive (loss) income	(3,890)			(3,890)
End of period (in shares) at Mar. 31, 2024		54,785,000
End of period at Mar. 31, 2024	(83,156)	$ 55	584,752	(3,635)	(664,328)
Beginning of the period (in shares) at Dec. 31, 2023		54,179,000
Beginning of the period at Dec. 31, 2023	$ (89,390)	$ 54	562,942	255	(652,641)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	37,265
Net loss	$ (29,235)
Other comprehensive (loss) income	(4,985)
End of period (in shares) at Jun. 30, 2024		54,914,000
End of period at Jun. 30, 2024	(77,747)	$ 55	608,804	(4,730)	(681,876)
Beginning of the period (in shares) at Mar. 31, 2024		54,785,000
Beginning of the period at Mar. 31, 2024	(83,156)	$ 55	584,752	(3,635)	(664,328)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	25,402		25,402
Issuance of common stock upon exercise of stock options (in shares)		18,000
Issuance of common stock upon exercise of stock options	290		290
Issuance of restricted stock units (in shares)		131,000
Tax withholding related to net share settlements of stock-based compensation awards (in shares)		(20,000)
Tax withholding related to net share settlements of stock-based compensation awards	(1,640)		(1,640)
Net loss	(17,548)				(17,548)
Other comprehensive (loss) income	(1,095)			(1,095)
End of period (in shares) at Jun. 30, 2024		54,914,000
End of period at Jun. 30, 2024	$ (77,747)	$ 55	$ 608,804	$ (4,730)	$ (681,876)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net loss	$ (17,548)	$ (20,910)	$ (29,235)	$ (67,060)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	2,564	2,867	5,086	5,667
Stock-based compensation expense	25,402	20,610	48,409	58,652
Provision for (recovery of) doubtful accounts	20	(57)	(103)	49
Realized loss on sale of available-for-sale securities, net	0	147	0	708
Amortization of premiums and discounts on marketable securities, net	(3,156)	(1,572)	(6,905)	(2,600)
Amortization of issuance costs and debt discount	609	325	1,217	650
Deferred income tax	4	7	(291)	(3)
Changes in assets and liabilities:
Accounts receivable	(33,267)	(6,886)	3,680	22,477
Deferred costs	(11,599)	1,362	(10,194)	3,132
Operating lease right-of-use asset	1,172	1,268	2,598	2,563
Other receivables	4,347	(381)	4,541	(286)
Prepaid expenses and other	4,693	(1,705)	2,420	(7,437)
Other assets	(565)	510	(1,655)	436
Accounts payable	(1,884)	(1,088)	2,842	(881)
Deferred revenue	13,079	21,060	(4,447)	11,105
Operating lease liability	(966)	(1,207)	(1,953)	(2,379)
Accrued expenses and other liabilities	17,081	11,629	8,820	6,749
Net cash (used in) provided by operating activities	(14)	25,979	24,830	31,542
Cash flows from investing activities
Purchase of property and equipment	(108)	(639)	(311)	(837)
Purchase of marketable securities	(34,986)	(51,204)	(151,553)	(177,019)
Sale of marketable securities	0	21,339	4,609	65,052
Maturities of marketable securities	107,100	8,000	236,740	39,905
Acquisitions, net of cash acquired	(98,280)	0	(98,280)	0
Purchase of intangible assets	(41)	(40)	(72)	(119)
Net cash used in investing activities	(26,315)	(22,544)	(8,867)	(73,018)
Cash flows from financing activities
Proceeds from option exercises	290	747	592	2,204
Taxes paid related to net share settlements of stock-based compensation awards	(1,640)	(1,212)	(10,251)	(8,440)
Proceeds from shares issued in connection with employee stock purchase plan	0	0	7,113	5,546
Principal payments on finance lease obligations	(132)	(125)	(261)	(249)
Net cash used in financing activities	(1,482)	(590)	(2,807)	(939)
Effect of foreign exchange rates on cash	(358)	609	(1,465)	1,157
Net (decrease) increase in cash, cash equivalents and restricted cash	(28,169)	3,454	11,691	(41,258)
Cash, cash equivalents and restricted cash at beginning of period	296,581	195,485	256,721	240,197
Cash, cash equivalents and restricted cash at end of period	268,412	198,939	268,412	198,939
Supplemental cash flow disclosure
Cash paid for interest	197	204	5,102	2,350
Cash paid for income taxes, net of refunds	2,181	1,198	3,133	1,521
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
Cash and cash equivalents at end of period	267,897	198,939	267,897	198,939
Restricted cash included within prepaid expenses and other at end of period	515	0	515	0
Total cash, cash equivalents, and restricted cash at end of period shown in the consolidated statements of cash flows	$ 268,412	$ 198,939	$ 268,412	$ 198,939

Organization and Significant Ac

Organization and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Significant Accounting Policies	Organization and Significant Accounting Policies Organization Workiva Inc., a Delaware corporation, and its wholly-owned subsidiaries (the “Company” or “we” or “us”) is on a mission to power transparent reporting for a better world. We believe that all stakeholders, including consumers, employees, shareholders, and regulators expect more from business – more action, transparency, and disclosure of financial and non-financial information. We build solutions to meet that demand and streamline processes, connect data and teams, and ensure consistency – all within the Workiva platform, the world’s leading cloud platform for assured integrated reporting. Our operational headquarters are located in Ames, Iowa, with additional offices located in the United States, Europe, the Asia-Pacific region and Canada. Basis of Presentation and Principles of Consolidation The financial information presented in the accompanying unaudited condensed consolidated financial statements has been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated balance sheet data as of December 31, 2023 was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting primarily of normal recurring accruals, necessary for a fair presentation of our financial position and results of operations. The operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results expected for the full year ending December 31, 2024. Seasonality affects our revenue, expenses and cash flows from operations. Revenue from professional services is generally higher in the first quarter as many of our customers file their 10-K in the first calendar quarter. Our sales and marketing expense also has some degree of seasonality. Sales and marketing expenses have historically been higher in the third quarter due to our annual user conference in September. In addition, the timing of cash bonus payments to employees during the first and fourth calendar quarters may result in some seasonality in operating cash flow. The condensed consolidated financial information should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in this report and the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC on February 20, 2024. The unaudited condensed consolidated financial statements include the accounts of Workiva Inc. and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We base our estimates on historical experience and various other assumptions believed to be reasonable. These estimates include, but are not limited to, the allowance for doubtful accounts, the determination of the relative selling prices of our services, the measurement of material rights, health insurance claims incurred but not yet reported, valuation of available-for-sale marketable securities, useful lives of deferred contract costs, intangible assets and property and equipment, goodwill, income taxes, discount rates used in the valuation of right-of-use assets and lease liabilities, and certain assumptions used in the valuation of equity awards. While these estimates are based on our best knowledge of current events and actions that may affect us in the future, actual results may differ materially from these estimates. Recently Adopted Accounting Pronouncements None. New Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The standard is effective for annual periods beginning after December 15, 2023, with early adoption permitted. We are assessing the effect of adopting this standard on our consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. We are assessing the effect of adopting this standard on our consolidated financial statements and related disclosures.

Supplemental Consolidated Balan

Supplemental Consolidated Balance Sheet Information	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Supplemental Consolidated Balance Sheet Information	Supplemental Consolidated Balance Sheet Information Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): As of June 30, 2024 As of December 31, 2023 Accrued vacation $ 18,908 $ 15,356 Accrued commissions 15,796 11,969 Accrued bonuses 16,268 6,825 Accrued payroll 7,301 7,206 Estimated health insurance claims 2,685 3,462 Accrued interest 3,190 3,510 ESPP employee contributions 7,627 7,540 Customer deposits 23,537 24,763 Operating lease liabilities 4,457 5,256 Accrued other liabilities 13,570 12,034 $ 113,339 $ 97,921

Cash Equivalents and Marketable

Cash Equivalents and Marketable Securities	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Cash Equivalents and Marketable Securities	Cash Equivalents and Marketable Securities At June 30, 2024, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 146,211 $ — $ — $ 146,211 Commercial paper 9,857 — — 9,857 U.S. treasury debt securities 222,378 27 (360) 222,045 U.S. government agency debt securities 89,874 4 (131) 89,747 Corporate debt securities 153,605 51 (370) 153,286 $ 621,925 $ 82 $ (861) $ 621,146 Included in cash and cash equivalents $ 148,190 $ — $ — $ 148,190 Included in marketable securities $ 473,735 $ 82 $ (861) $ 472,956 At December 31, 2023, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 108,826 $ — $ — $ 108,826 Commercial paper 56,115 — — 56,115 U.S. treasury debt securities 224,136 531 (80) 224,587 U.S. government agency debt securities 110,036 256 (15) 110,277 Corporate debt securities 165,341 497 (187) 165,651 Foreign government debt securities 999 — (7) 992 $ 665,453 $ 1,284 $ (289) $ 666,448 Included in cash and cash equivalents $ 108,826 $ — $ — $ 108,826 Included in marketable securities $ 556,627 $ 1,284 $ (289) $ 557,622 The contractual maturities of the investments classified as marketable securities are as follows (in thousands): As of June 30, 2024 Due within one year $ 334,821 Due in one to two years 138,135 $ 472,956 The following table presents gross unrealized losses and fair values for those cash equivalents and marketable securities that were in an unrealized loss position as of June 30, 2024, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in thousands): As of June 30, 2024 Less than 12 months 12 months or greater Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. treasury debt securities $ 177,186 $ (325) $ 8,949 $ (35) U.S. government agency debt securities 75,128 (131) — — Corporate debt securities 106,724 (327) 13,629 (43) Total $ 359,038 $ (783) $ 22,578 $ (78) We do not believe the unrealized losses represent credit losses based on our evaluation of available evidence as of June 30, 2024, which includes an assessment of whether it is more likely than not we will be required to sell the investment before recovery of the investment's amortized cost basis.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We determine the fair values of our financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value assumes that the transaction to sell the asset or transfer the liability occurs in the principal or most advantageous market for the asset or liability and establishes that the fair value of an asset or liability shall be determined based on the assumptions that market participants would use in pricing the asset or liability. The classification of a financial asset or liability within the hierarchy is based upon the lowest level input that is significant to the fair value measurement. The fair value hierarchy prioritizes the inputs into three levels that may be used to measure fair value: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 - Inputs are unobservable inputs based on our assumptions. Financial Assets Cash equivalents primarily consist of AAA-rated money market funds with overnight liquidity and no stated maturities. We classified cash equivalents as Level 1 due to the short-term nature of these instruments and measured the fair value based on quoted prices in active markets for identical assets. When available, our marketable securities are valued using quoted prices for identical instruments in active markets. If we are unable to value our marketable securities using quoted prices for identical instruments in active markets, we value our investments using broker reports that utilize quoted market prices for comparable instruments. We validate, on a sample basis, the derived prices provided by the brokers by comparing their assessment of the fair values of our investments against the fair values of the portfolio balances of another third-party professional pricing service. As of June 30, 2024, all of our marketable securities were valued using quoted prices for comparable instruments in active markets and are classified as Level 2. Based on our valuation of our money market funds and marketable securities, we concluded that they are classified in either Level 1 or Level 2, and we have no financial assets measured using Level 3 inputs on a recurring basis. The following table presents information about our assets that are measured at fair value on a recurring basis using the above input categories (in thousands): Fair Value Measurements as of June 30, 2024 Fair Value Measurements as of December 31, 2023 Description Total Level 1 Level 2 Total Level 1 Level 2 Money market funds $ 146,211 $ 146,211 $ — $ 108,826 $ 108,826 $ — Commercial paper 9,857 — 9,857 56,115 — 56,115 U.S. treasury debt securities 222,045 — 222,045 224,587 — 224,587 U.S. government agency debt securities 89,747 — 89,747 110,277 — 110,277 Corporate debt securities 153,286 — 153,286 165,651 — 165,651 Foreign government debt securities — — — 992 — 992 $ 621,146 $ 146,211 $ 474,935 $ 666,448 $ 108,826 $ 557,622 Included in cash and cash equivalents $ 148,190 $ 108,826 Included in marketable securities $ 472,956 $ 557,622 Convertible Senior Notes As of June 30, 2024, the fair value of our convertible senior notes due in 2026 and 2028 was $78.2 million and $613.8 million, respectively. The fair value was determined based on the quoted price of the convertible senior notes in an over-the-counter market on the last trading day of the reporting period and has been classified as Level 2 in the fair value hierarchy. See Note 5 to the condensed consolidated financial statements for more information.

Convertible Senior Notes

Convertible Senior Notes	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Convertible Senior Notes	Convertible Senior Notes The following table presents details of our convertible senior notes, which are further discussed below (original principal in thousands): Month Issued Maturity Date Free Convertibility Date Redemption Date Original Principal (including overallotment) Initial Conversion Rate per $1,000 Principal Initial Conversion Price 2026 Notes August 2019 August 15, 2026 May 15, 2026 August 21, 2023 $ 345,000 12.4756 $ 80.16 2028 Notes August 2023 August 15, 2028 May 15, 2028 August 21, 2026 $ 702,000 7.4690 $ 133.89 In August 2019, we issued $345.0 million aggregate principal amount of 1.125% convertible senior notes due 2026 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, including the exercise in full by the initial purchasers of their option to purchase an additional $45.0 million principal amount (the "2026 Notes”). The 2026 Notes bear interest at a fixed rate of 1.125% per annum, payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2020. Proceeds from the issuance of the 2026 Notes totaled $335.9 million, net of initial purchaser discounts and issuance costs. In August 2023, we issued $702.0 million aggregate principal amount of 1.250% convertible senior notes due 2028 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, including the partial exercise of 77.0 million principal amount by the initial purchasers of their option to purchase up to an additional $100 million principal amount (the "2028 Notes”). The 2028 Notes bear interest at a fixed rate of 1.250% per annum, payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2024. Proceeds from the issuance of the 2028 Notes totaled $691.1 million, net of initial purchaser discounts and issuance costs. The 2026 Notes and the 2028 Notes are together referred to as the "Notes". The Notes were issued pursuant to an indenture and are senior, unsecured obligations of the Company. The 2028 Notes will rank equally with all of the Company’s existing and future senior unsecured indebtedness, including the Company’s outstanding 2026 Notes. Holders of the Notes may convert all or a portion of their Notes prior to the close of business on their respective Free Convertibility dates, in multiples of $1,000 principal amount, only under the following circumstances: • during any calendar quarter commencing after the calendar quarter in which the respective Notes were issued (and only during such calendar quarter), if the last reported sale price of our Class A common stock, par value $0.001 per share (which we refer to in this offering memorandum as our “Class A common stock”), for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; • during the five consecutive business day period immediately following any ten consecutive trading day period (the “measurement period”) in which the trading price (as defined below) per $1,000 principal amount of Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our Class A common stock and the conversion rate on each such trading day; • if we call any or all of the Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or • upon the occurrence of certain specified corporate events as set forth in the relevant indenture. On or after the relevant Free Convertibility Date, holders of the Notes may convert their Notes at any time until the close of business on the second scheduled trading day immediately preceding the maturity date of the Notes. Upon conversion, we will pay or deliver, as the case may be, cash, shares of our Class A common stock or a combination of cash and shares of our Class A common stock, at our election, in the manner and subject to the terms and conditions provided in the indenture. The Company may redeem for cash all or any portion of the Notes, at its option, on or after the respective Redemption Date, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus any accrued and unpaid interest to, but excluding, the respective Redemption Date. During the second quarter of 2024 none of the conversion conditions were met and therefore the Notes are not convertible at the option of the holders. As a result, the Notes were classified as non-current liabilities on the condensed consolidated balance sheet as of June 30, 2024. Interest expense representing the amortization of issuance costs as well as contractual interest expense is amortized to interest expense at an effective interest rate of 1.5% and 1.6% over the term of the 2026 Notes and 2028 Notes, respectively. As of June 30, 2024, the remaining life of the 2026 Notes and 2028 Notes were approximately 2.1 years and 4.2 years, respectively. The net carrying amount of the Notes was as follows (in thousands): June 30, 2024 December 31, 2023 2026 Notes 2028 Notes 2026 Notes 2028 Notes Principal $ 71,242 $ 702,000 $ 71,242 $ 702,000 Unamortized issuance costs (576) (8,994) (711) (10,076) Net carrying amount $ 70,666 $ 693,006 $ 70,531 $ 691,924 Interest expense related to the Notes was as follows (in thousands): Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Contractual interest expense $ 2,394 $ 970 $ 4,788 $ 1,940 Amortization of issuance costs 609 325 1,217 650 Total interest expense $ 3,003 $ 1,295 $ 6,005 $ 2,590

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time we may become involved in legal proceedings or be subject to claims arising in the ordinary course of our business. We evaluate the development of legal matters on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. Although the results of litigation and claims cannot be predicted with certainty, we currently believe that the final outcome of any currently pending legal proceedings to which we are a party will not have a material adverse effect on our business, operating results, financial condition or cash flows. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation We grant stock-based incentive awards to attract, motivate and retain qualified employees, non-employee directors and consultants, and to align their financial interests with those of our stockholders. We utilize stock-based compensation in the form of restricted stock units, performance restricted stock units, options to purchase Class A common stock and Employee Stock Purchase Plan ("ESPP") purchase rights. Prior to our corporate conversion in December 2014, awards were provided under the 2009 Unit Incentive Plan (“the 2009 Plan”). The 2009 Plan was amended to provide that no further awards will be issued thereunder, and our board of directors and stockholders adopted and approved our 2014 Equity Incentive Plan (“the 2014 Plan” and, together with the 2009 Plan, “the Plans”). On May 30, 2024, stockholders approved an amendment to the 2014 Plan that increased the number of shares available for grant by 3,900,000. As of June 30, 2024, 5,212,217 shares of Class A common stock were available for grant under the 2014 Plan. Stock-Based Compensation Expense Stock-based compensation expense was recorded in the following cost and expense categories consistent with the respective employee or service provider’s related cash compensation (in thousands): Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Cost of revenue Subscription and support $ 1,943 $ 1,413 $ 3,544 $ 2,485 Professional services 763 667 1,490 1,300 Operating expenses Research and development 5,152 4,825 9,793 9,522 Sales and marketing 8,490 6,703 16,528 13,661 General and administrative 9,054 7,002 17,054 31,684 Total $ 25,402 $ 20,610 $ 48,409 $ 58,652 Stock Options The following table summarizes the option activity under the Plans for the six months ended June 30, 2024: Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Outstanding at December 31, 2023 1,211,619 $ 14.46 2.3 Granted — — Forfeited — — Expired — — Exercised (37,265) 15.87 Outstanding at June 30, 2024 1,174,354 $ 14.41 1.8 Exercisable at June 30, 2024 1,174,354 $ 14.41 1.8 Restricted Stock Units and Performance Restricted Stock Units The following table summarizes the restricted stock unit and performance restricted stock unit activity under the Plans for the six months ended June 30, 2024: Number of Shares Weighted- Average Grant Date Fair Value Unvested at December 31, 2023 2,198,411 $ 97.17 Granted 1,115,127 92.39 Forfeited (102,589) 96.39 Vested (1) (705,626) 94.17 Unvested at June 30, 2024 2,505,323 $ 95.97 (1) During the six months ended June 30, 2024, in accordance with our Nonqualified Deferred Compensation Plan, recipients of 3,325 shares elected to defer settlement of their vested restricted stock units and 18,919 shares were released from deferral. Employee Stock Purchase Plan During the six months ended June 30, 2024, 88,047 shares of common stock were purchased under the ESPP at a weighted-average price of $80.79 per share, resulting in cash proceeds of $7.1 million.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of Revenue The following table presents our revenues disaggregated by type of good or service (in thousands): Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Subscription and support $ 160,735 $ 136,772 $ 315,714 $ 266,436 XBRL professional services 14,027 14,431 31,620 31,164 Other services 2,741 3,819 5,836 7,611 Total revenues $ 177,503 $ 155,022 $ 353,170 $ 305,211 Deferred Revenue We recognized $145.2 million and $122.5 million of revenue during the three months ended June 30, 2024 and 2023, respectively, that was included in the deferred revenue balances at the beginning of the respective periods. We recognized $254.5 million and $212.6 million of revenue during the six months ended June 30, 2024 and 2023, respectively, that was included in the deferred revenue balances at the beginning of the respective periods. Transaction Price Allocated to the Remaining Performance Obligations

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill The following table presents the components of net intangible assets (in thousands): As of June 30, 2024 As of December 31, 2023 Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology 4.7 $ 26,261 $ (9,233) $ 17,028 $ 15,949 $ (7,471) $ 8,478 Acquired customer-related 10.0 16,319 (3,442) 12,877 15,427 (2,769) 12,658 Acquired trade names 2.9 2,152 (1,781) 371 2,172 (1,721) 451 Patents 10.0 3,222 (1,965) 1,257 3,150 (1,845) 1,305 Total 6.8 $ 47,954 $ (16,421) $ 31,533 $ 36,698 $ (13,806) $ 22,892 Amortization expense related to intangible assets was $1.4 million and $1.5 million for the three months ended June 30, 2024 and 2023, respectively, and $2.8 million and $3.1 million for the six months ended June 30, 2024 and 2023, respectively. As of June 30, 2024, expected remaining amortization expense of intangible assets by fiscal year is as follows (in thousands): Remainder of 2024 $ 3,830 2025 6,926 2026 5,606 2027 4,319 2028 3,885 Thereafter 6,967 Total expected amortization expense $ 31,533 The changes in the carrying amount of goodwill were as follows (in thousands): December 31, 2023 $ 112,097 Acquisition 89,410 Foreign currency translation adjustments (2,305) June 30, 2024 $ 199,202

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Net loss per share is allocated based on the contractual participation rights of the Class A and Class B common shares as if the loss for the year has been distributed. As the liquidation and dividend rights are identical, the net loss is allocated on a proportionate basis. A reconciliation of the denominator used in the calculation of basic and diluted loss per share is as follows (in thousands, except share and per share data): Three months ended June 30, 2024 June 30, 2023 Class A Class B Class A Class B Numerator Net loss $ (16,325) $ (1,223) $ (19,421) $ (1,489) Denominator Weighted-average common shares outstanding - basic and diluted 51,331,579 3,845,583 50,164,380 3,845,583 Basic and diluted net loss per share $ (0.32) $ (0.32) $ (0.39) $ (0.39) Six months ended June 30, 2024 June 30, 2023 Class A Class B Class A Class B Numerator Net loss $ (27,193) $ (2,042) $ (62,253) $ (4,807) Denominator Weighted-average common shares outstanding - basic and diluted 51,200,924 3,845,583 49,990,734 3,860,252 Basic and diluted net loss per share $ (0.53) $ (0.53) $ (1.25) $ (1.25) The anti-dilutive securities excluded from the weighted-average shares used to calculate the diluted net loss per common share were as follows: As of June 30, 2024 June 30, 2023 Shares subject to outstanding common stock options 1,174,354 1,359,116 Shares subject to unvested restricted stock units and performance restricted stock units 2,505,323 2,261,742 Shares issuable pursuant to the ESPP 96,271 96,892 Shares underlying our convertible senior notes 6,132,025 4,304,082

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions On June 17, 2024, we acquired all of the issued and outstanding equity interests in Sustain.Life, Inc. (“Sustain.Life”), a leading provider of carbon accounting solutions to launch Workiva Carbon, for $98.3 million net of cash acquired of $0.3 million. Workiva Carbon is an audit-ready carbon accounting solution that helps organizations measure, manage, track, and report carbon emissions, including data from third-party supply chain partners. Coupled with Workiva's ESG reporting solution, companies can now collect key business data, calculate critical metrics, set data-driven ESG strategy, measure progress, and report results all in the Workiva platform. The transaction was accounted for as a business combination. The purchase price has been preliminarily allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The fair values of goodwill and definite-lived intangible assets acquired in the acquisition were externally estimated primarily based on the replacement cost approach. The fair values of assets acquired and liabilities assumed may change over the measurement period as additional information is received. The primary area subject to change includes our review of the valuation of intangible assets. We expect to finalize the valuation as soon as practicable, but not later than one year from the acquisition date. The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill. The goodwill recognized was primarily attributable to the assembled workforce, operational synergies, and strategic benefits that are expected to be achieved and is not deductible for income tax purposes. The following table presents a preliminary allocation of the purchase price to the assets acquired and liabilities assumed at the date of acquisition (in thousands) : Cash consideration $ 98,532 Total consideration $ 98,532 Cash $ 251 Accounts receivable, net 384 Other receivables 4,066 Prepaid expenses and other 239 Intangible assets 11,890 Goodwill 89,410 Accounts payable (211) Accrued liabilities (5,194) Deferred revenue (1,042) Other long-term liabilities (1,261) Fair value of assets and liabilities $ 98,532 We incurred costs related to the acquisition of approximately $1.1 million during the three months ended June 30, 2024. All acquisition related costs were expensed as incurred and have been recorded in general and administrative expenses in our condensed consolidated statements of operations. The amount of revenues and net loss from the acquisition included in our condensed consolidated statements of operations for the three and six months ended June 30, 2024 were not material.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 30, 2024, our board of directors authorized a share repurchase program to repurchase up to $100.0 million of the Company’s outstanding Class A common stock. Under this new program, the Company may purchase its Class A common stock from time to time in the open market or through privately negotiated transactions, pursuant to Rule 10b5-1 trading plans or other available means, each in compliance with Rule 10b-18 under the Exchange Act. The timing, manner, price, and amount of the repurchase will be subject to the discretion of the Company’s management. The repurchase program does not obligate the Company to acquire any particular amount of Class A common stock, and it may be suspended or discontinued at any time.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss	$ (17,548)	$ (11,687)	$ (20,910)	$ (46,150)	$ (29,235)	$ (67,060)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Significant _2

Organization and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The financial information presented in the accompanying unaudited condensed consolidated financial statements has been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated balance sheet data as of December 31, 2023 was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting primarily of normal recurring accruals, necessary for a fair presentation of our financial position and results of operations. The operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results expected for the full year ending December 31, 2024.
Principles of Consolidation	All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We base our estimates on historical experience and various other assumptions believed to be reasonable. These estimates include, but are not limited to, the allowance for doubtful accounts, the determination of the relative selling prices of our services, the measurement of material rights, health insurance claims incurred but not yet reported, valuation of available-for-sale marketable securities, useful lives of deferred contract costs, intangible assets and property and equipment, goodwill, income taxes, discount rates used in the valuation of right-of-use assets and lease liabilities, and certain assumptions used in the valuation of equity awards. While these estimates are based on our best knowledge of current events and actions that may affect us in the future, actual results may differ materially from these estimates.
Recently Adopted Accounting Pronouncements and New Accounting Pronouncements Not Yet Adopted	None. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The standard is effective for annual periods beginning after December 15, 2023, with early adoption permitted. We are assessing the effect of adopting this standard on our consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. We are assessing the effect of adopting this standard on our consolidated financial statements and related disclosures.
Fair Value of Financial Instruments	Cash equivalents primarily consist of AAA-rated money market funds with overnight liquidity and no stated maturities. We classified cash equivalents as Level 1 due to the short-term nature of these instruments and measured the fair value based on quoted prices in active markets for identical assets. When available, our marketable securities are valued using quoted prices for identical instruments in active markets. If we are unable to value our marketable securities using quoted prices for identical instruments in active markets, we value our investments using broker reports that utilize quoted market prices for comparable instruments. We validate, on a sample basis, the derived prices provided by the brokers by comparing their assessment of the fair values of our investments against the fair values of the portfolio balances of another third-party professional pricing service.

Supplemental Consolidated Bal_2

Supplemental Consolidated Balance Sheet Information (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands): As of June 30, 2024 As of December 31, 2023 Accrued vacation $ 18,908 $ 15,356 Accrued commissions 15,796 11,969 Accrued bonuses 16,268 6,825 Accrued payroll 7,301 7,206 Estimated health insurance claims 2,685 3,462 Accrued interest 3,190 3,510 ESPP employee contributions 7,627 7,540 Customer deposits 23,537 24,763 Operating lease liabilities 4,457 5,256 Accrued other liabilities 13,570 12,034 $ 113,339 $ 97,921

Cash Equivalents and Marketab_2

Cash Equivalents and Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Marketable Securities	At June 30, 2024, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 146,211 $ — $ — $ 146,211 Commercial paper 9,857 — — 9,857 U.S. treasury debt securities 222,378 27 (360) 222,045 U.S. government agency debt securities 89,874 4 (131) 89,747 Corporate debt securities 153,605 51 (370) 153,286 $ 621,925 $ 82 $ (861) $ 621,146 Included in cash and cash equivalents $ 148,190 $ — $ — $ 148,190 Included in marketable securities $ 473,735 $ 82 $ (861) $ 472,956 At December 31, 2023, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 108,826 $ — $ — $ 108,826 Commercial paper 56,115 — — 56,115 U.S. treasury debt securities 224,136 531 (80) 224,587 U.S. government agency debt securities 110,036 256 (15) 110,277 Corporate debt securities 165,341 497 (187) 165,651 Foreign government debt securities 999 — (7) 992 $ 665,453 $ 1,284 $ (289) $ 666,448 Included in cash and cash equivalents $ 108,826 $ — $ — $ 108,826 Included in marketable securities $ 556,627 $ 1,284 $ (289) $ 557,622
Schedule of Cash and Cash Equivalents	At June 30, 2024, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 146,211 $ — $ — $ 146,211 Commercial paper 9,857 — — 9,857 U.S. treasury debt securities 222,378 27 (360) 222,045 U.S. government agency debt securities 89,874 4 (131) 89,747 Corporate debt securities 153,605 51 (370) 153,286 $ 621,925 $ 82 $ (861) $ 621,146 Included in cash and cash equivalents $ 148,190 $ — $ — $ 148,190 Included in marketable securities $ 473,735 $ 82 $ (861) $ 472,956 At December 31, 2023, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 108,826 $ — $ — $ 108,826 Commercial paper 56,115 — — 56,115 U.S. treasury debt securities 224,136 531 (80) 224,587 U.S. government agency debt securities 110,036 256 (15) 110,277 Corporate debt securities 165,341 497 (187) 165,651 Foreign government debt securities 999 — (7) 992 $ 665,453 $ 1,284 $ (289) $ 666,448 Included in cash and cash equivalents $ 108,826 $ — $ — $ 108,826 Included in marketable securities $ 556,627 $ 1,284 $ (289) $ 557,622
Schedule of Investments Classified by Contractual Maturity Date	The contractual maturities of the investments classified as marketable securities are as follows (in thousands): As of June 30, 2024 Due within one year $ 334,821 Due in one to two years 138,135 $ 472,956
Schedule of Available-for-sale Securities, Continuous Unrealized Loss Position	The following table presents gross unrealized losses and fair values for those cash equivalents and marketable securities that were in an unrealized loss position as of June 30, 2024, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in thousands): As of June 30, 2024 Less than 12 months 12 months or greater Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. treasury debt securities $ 177,186 $ (325) $ 8,949 $ (35) U.S. government agency debt securities 75,128 (131) — — Corporate debt securities 106,724 (327) 13,629 (43) Total $ 359,038 $ (783) $ 22,578 $ (78)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets Measured on Recurring Basis	The following table presents information about our assets that are measured at fair value on a recurring basis using the above input categories (in thousands): Fair Value Measurements as of June 30, 2024 Fair Value Measurements as of December 31, 2023 Description Total Level 1 Level 2 Total Level 1 Level 2 Money market funds $ 146,211 $ 146,211 $ — $ 108,826 $ 108,826 $ — Commercial paper 9,857 — 9,857 56,115 — 56,115 U.S. treasury debt securities 222,045 — 222,045 224,587 — 224,587 U.S. government agency debt securities 89,747 — 89,747 110,277 — 110,277 Corporate debt securities 153,286 — 153,286 165,651 — 165,651 Foreign government debt securities — — — 992 — 992 $ 621,146 $ 146,211 $ 474,935 $ 666,448 $ 108,826 $ 557,622 Included in cash and cash equivalents $ 148,190 $ 108,826 Included in marketable securities $ 472,956 $ 557,622

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Convertible Debt	The following table presents details of our convertible senior notes, which are further discussed below (original principal in thousands): Month Issued Maturity Date Free Convertibility Date Redemption Date Original Principal (including overallotment) Initial Conversion Rate per $1,000 Principal Initial Conversion Price 2026 Notes August 2019 August 15, 2026 May 15, 2026 August 21, 2023 $ 345,000 12.4756 $ 80.16 2028 Notes August 2023 August 15, 2028 May 15, 2028 August 21, 2026 $ 702,000 7.4690 $ 133.89 The net carrying amount of the Notes was as follows (in thousands): June 30, 2024 December 31, 2023 2026 Notes 2028 Notes 2026 Notes 2028 Notes Principal $ 71,242 $ 702,000 $ 71,242 $ 702,000 Unamortized issuance costs (576) (8,994) (711) (10,076) Net carrying amount $ 70,666 $ 693,006 $ 70,531 $ 691,924 Interest expense related to the Notes was as follows (in thousands): Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Contractual interest expense $ 2,394 $ 970 $ 4,788 $ 1,940 Amortization of issuance costs 609 325 1,217 650 Total interest expense $ 3,003 $ 1,295 $ 6,005 $ 2,590

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	Stock-based compensation expense was recorded in the following cost and expense categories consistent with the respective employee or service provider’s related cash compensation (in thousands): Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Cost of revenue Subscription and support $ 1,943 $ 1,413 $ 3,544 $ 2,485 Professional services 763 667 1,490 1,300 Operating expenses Research and development 5,152 4,825 9,793 9,522 Sales and marketing 8,490 6,703 16,528 13,661 General and administrative 9,054 7,002 17,054 31,684 Total $ 25,402 $ 20,610 $ 48,409 $ 58,652
Schedule of Stock-Option Activity	The following table summarizes the option activity under the Plans for the six months ended June 30, 2024: Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Outstanding at December 31, 2023 1,211,619 $ 14.46 2.3 Granted — — Forfeited — — Expired — — Exercised (37,265) 15.87 Outstanding at June 30, 2024 1,174,354 $ 14.41 1.8 Exercisable at June 30, 2024 1,174,354 $ 14.41 1.8
Schedule of Restricted Stock Units and Performance Restricted Stock Units Activity	The following table summarizes the restricted stock unit and performance restricted stock unit activity under the Plans for the six months ended June 30, 2024: Number of Shares Weighted- Average Grant Date Fair Value Unvested at December 31, 2023 2,198,411 $ 97.17 Granted 1,115,127 92.39 Forfeited (102,589) 96.39 Vested (1) (705,626) 94.17 Unvested at June 30, 2024 2,505,323 $ 95.97 (1) During the six months ended June 30, 2024, in accordance with our Nonqualified Deferred Compensation Plan, recipients of 3,325 shares elected to defer settlement of their vested restricted stock units and 18,919 shares were released from deferral.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents our revenues disaggregated by type of good or service (in thousands): Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Subscription and support $ 160,735 $ 136,772 $ 315,714 $ 266,436 XBRL professional services 14,027 14,431 31,620 31,164 Other services 2,741 3,819 5,836 7,611 Total revenues $ 177,503 $ 155,022 $ 353,170 $ 305,211

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The following table presents the components of net intangible assets (in thousands): As of June 30, 2024 As of December 31, 2023 Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired technology 4.7 $ 26,261 $ (9,233) $ 17,028 $ 15,949 $ (7,471) $ 8,478 Acquired customer-related 10.0 16,319 (3,442) 12,877 15,427 (2,769) 12,658 Acquired trade names 2.9 2,152 (1,781) 371 2,172 (1,721) 451 Patents 10.0 3,222 (1,965) 1,257 3,150 (1,845) 1,305 Total 6.8 $ 47,954 $ (16,421) $ 31,533 $ 36,698 $ (13,806) $ 22,892
Schedule of Expected Amortization Expense of Intangible Assets	As of June 30, 2024, expected remaining amortization expense of intangible assets by fiscal year is as follows (in thousands): Remainder of 2024 $ 3,830 2025 6,926 2026 5,606 2027 4,319 2028 3,885 Thereafter 6,967 Total expected amortization expense $ 31,533
Schedule of the Changes in the Carrying Amount of Goodwill	The changes in the carrying amount of goodwill were as follows (in thousands): December 31, 2023 $ 112,097 Acquisition 89,410 Foreign currency translation adjustments (2,305) June 30, 2024 $ 199,202

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the denominator used in the calculation of basic and diluted loss per share is as follows (in thousands, except share and per share data): Three months ended June 30, 2024 June 30, 2023 Class A Class B Class A Class B Numerator Net loss $ (16,325) $ (1,223) $ (19,421) $ (1,489) Denominator Weighted-average common shares outstanding - basic and diluted 51,331,579 3,845,583 50,164,380 3,845,583 Basic and diluted net loss per share $ (0.32) $ (0.32) $ (0.39) $ (0.39) Six months ended June 30, 2024 June 30, 2023 Class A Class B Class A Class B Numerator Net loss $ (27,193) $ (2,042) $ (62,253) $ (4,807) Denominator Weighted-average common shares outstanding - basic and diluted 51,200,924 3,845,583 49,990,734 3,860,252 Basic and diluted net loss per share $ (0.53) $ (0.53) $ (1.25) $ (1.25)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The anti-dilutive securities excluded from the weighted-average shares used to calculate the diluted net loss per common share were as follows: As of June 30, 2024 June 30, 2023 Shares subject to outstanding common stock options 1,174,354 1,359,116 Shares subject to unvested restricted stock units and performance restricted stock units 2,505,323 2,261,742 Shares issuable pursuant to the ESPP 96,271 96,892 Shares underlying our convertible senior notes 6,132,025 4,304,082

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	The following table presents a preliminary allocation of the purchase price to the assets acquired and liabilities assumed at the date of acquisition (in thousands) : Cash consideration $ 98,532 Total consideration $ 98,532 Cash $ 251 Accounts receivable, net 384 Other receivables 4,066 Prepaid expenses and other 239 Intangible assets 11,890 Goodwill 89,410 Accounts payable (211) Accrued liabilities (5,194) Deferred revenue (1,042) Other long-term liabilities (1,261) Fair value of assets and liabilities $ 98,532

Supplemental Consolidated Bal_3

Supplemental Consolidated Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued Expenses and Other Current Liabilities
Accrued vacation	$ 18,908	$ 15,356
Accrued commissions	15,796	11,969
Accrued bonuses	16,268	6,825
Accrued payroll	7,301	7,206
Estimated health insurance claims	2,685	3,462
Accrued interest	3,190	3,510
ESPP employee contributions	7,627	7,540
Customer deposits	23,537	24,763
Operating lease liabilities	4,457	5,256
Accrued other liabilities	13,570	12,034
Accrued expenses and other current liabilities	$ 113,339	$ 97,921

Cash Equivalents and Marketab_3

Cash Equivalents and Marketable Securities - Schedule of Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amortized cost	$ 267,897	$ 256,100	$ 198,939
Debt Securities, Available-for-sale [Line Items]
Marketable securities, amortized cost	473,735	556,627
Marketable securities, unrealized gains	82	1,284
Marketable securities, unrealized losses	(861)	(289)
Marketable securities, aggregate fair value	472,956	557,622
Cash and cash equivalents and available-for-sale securities, amortized cost	621,925	665,453
Cash and cash equivalents and marketable securities, aggregate fair value	621,146	666,448
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Marketable securities, amortized cost	9,857	56,115
Marketable securities, unrealized gains	0	0
Marketable securities, unrealized losses	0	0
Marketable securities, aggregate fair value	9,857	56,115
U.S. treasury debt securities
Debt Securities, Available-for-sale [Line Items]
Marketable securities, unrealized gains	27	531
Marketable securities, unrealized losses	(360)	(80)
Cash and cash equivalents and available-for-sale securities, amortized cost	222,378	224,136
Cash and cash equivalents and marketable securities, aggregate fair value	222,045	224,587
U.S. government agency debt securities
Debt Securities, Available-for-sale [Line Items]
Marketable securities, amortized cost	89,874	110,036
Marketable securities, unrealized gains	4	256
Marketable securities, unrealized losses	(131)	(15)
Marketable securities, aggregate fair value	89,747	110,277
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Marketable securities, amortized cost	153,605	165,341
Marketable securities, unrealized gains	51	497
Marketable securities, unrealized losses	(370)	(187)
Marketable securities, aggregate fair value	153,286	165,651
Foreign government debt securities
Debt Securities, Available-for-sale [Line Items]
Marketable securities, amortized cost		999
Marketable securities, unrealized gains		0
Marketable securities, unrealized losses		(7)
Marketable securities, aggregate fair value		992
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amortized cost	146,211	108,826
Cash and cash equivalents, aggregate fair value	146,211	108,826
Cash Equivalents
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amortized cost	148,190	108,826
Cash and cash equivalents, aggregate fair value	$ 148,190	$ 108,826

Cash Equivalents and Marketab_4

Cash Equivalents and Marketable Securities - Schedule of Contractual Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Due within one year	$ 334,821
Due in one to two years	138,135
Marketable securities	$ 472,956	$ 557,622

Cash Equivalents and Marketab_5

Cash Equivalents and Marketable Securities - Continuous Unrealized Loss Position (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Fair Value
Less than 12 months	$ 359,038
12 months or greater	22,578
Unrealized Loss
Less than 12 months	(783)
12 months or greater	(78)
U.S. treasury debt securities
Fair Value
Less than 12 months	177,186
12 months or greater	8,949
Unrealized Loss
Less than 12 months	(325)
12 months or greater	(35)
U.S. government agency debt securities
Fair Value
Less than 12 months	75,128
12 months or greater	0
Unrealized Loss
Less than 12 months	(131)
12 months or greater	0
Corporate debt securities
Fair Value
Less than 12 months	106,724
12 months or greater	13,629
Unrealized Loss
Less than 12 months	(327)
12 months or greater	$ (43)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 472,956	$ 557,622
Cash and cash equivalents and marketable securities	621,146	666,448
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	9,857	56,115
U.S. treasury debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents and marketable securities	222,045	224,587
U.S. government agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	89,747	110,277
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	153,286	165,651
Foreign government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		992
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	146,211	108,826
Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	148,190	108,826
Level 2 | 2026 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of convertible debt	78,200
Level 2 | 2028 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of convertible debt	613,800
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	472,956	557,622
Total assets measured at fair value	621,146	666,448
Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	9,857	56,115
Recurring | U.S. treasury debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents and marketable securities	222,045	224,587
Recurring | U.S. government agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	89,747	110,277
Recurring | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	153,286	165,651
Recurring | Foreign government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	992
Recurring | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	146,211	108,826
Recurring | Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	148,190	108,826
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	146,211	108,826
Recurring | Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Recurring | Level 1 | U.S. treasury debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents and marketable securities	0	0
Recurring | Level 1 | U.S. government agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Recurring | Level 1 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Recurring | Level 1 | Foreign government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Recurring | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	146,211	108,826
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	474,935	557,622
Recurring | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	9,857	56,115
Recurring | Level 2 | U.S. treasury debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents and marketable securities	222,045	224,587
Recurring | Level 2 | U.S. government agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	89,747	110,277
Recurring | Level 2 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	153,286	165,651
Recurring | Level 2 | Foreign government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	992
Recurring | Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 0	$ 0

Convertible Senior Notes - Summ

Convertible Senior Notes - Summary of Convertible Debt (Details) - Convertible debt	1 Months Ended
	Aug. 31, 2023 USD ($) $ / shares	Aug. 31, 2019 USD ($) $ / shares
2026 Notes
Debt Instrument [Line Items]
Original Principal (including overallotment) | $		$ 345,000,000
Initial Conversion Rate		0.0124756
Initial Conversion Price (in dollars per share) | $ / shares		$ 80.16
2028 Notes
Debt Instrument [Line Items]
Original Principal (including overallotment) | $	$ 702,000,000
Initial Conversion Rate	0.007469
Initial Conversion Price (in dollars per share) | $ / shares	$ 133.89

Convertible Senior Notes - Narr

Convertible Senior Notes - Narrative (Details)	1 Months Ended		6 Months Ended
	Aug. 31, 2023 USD ($) day $ / shares	Aug. 31, 2019 USD ($)	Jun. 30, 2024 $ / shares	Dec. 31, 2023 $ / shares
Class A Common Stock
Debt Instrument [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 0.001		$ 0.001	$ 0.001
Convertible debt | Debt Conversion Terms, One
Debt Instrument [Line Items]
Threshold number of trading days (day) | day	20
Threshold number of consecutive trading days (day) | day	30
Threshold percentage of stock price trigger	130%
Redemption price, percentage	100%
Convertible debt | Debt Conversion Terms, Two
Debt Instrument [Line Items]
Threshold number of trading days (day) | day	5
Threshold number of consecutive trading days (day) | day	10
Threshold percentage of stock trading price	98%
Convertible debt | 2026 Notes
Debt Instrument [Line Items]
Face amount of debt issued		$ 345,000,000
Stated interest percentage		1.125%
Proceeds from the issuance of convertible senior notes		$ 335,900,000
Effective interest percentage			1.50%
Remaining life of debt instrument			2 years 1 month 6 days
Convertible debt | 2026 Notes, over-allotment option
Debt Instrument [Line Items]
Face amount of debt issued		$ 45,000,000
Convertible debt | 2028 Notes
Debt Instrument [Line Items]
Face amount of debt issued	$ 702,000,000
Stated interest percentage	1.25%
Proceeds from the issuance of convertible senior notes	$ 691,100,000
Effective interest percentage			1.60%
Remaining life of debt instrument			4 years 2 months 12 days
Convertible debt | 2028 Notes, over-allotment option
Debt Instrument [Line Items]
Face amount of debt issued	77,000,000
Maximum face amount for over-allotment option	$ 100,000,000

Convertible Senior Notes - Net

Convertible Senior Notes - Net Carrying Amount of Convertible Debt (Details) - Convertible debt - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
2026 Notes
Debt Instrument [Line Items]
Principal	$ 71,242	$ 71,242
Unamortized issuance costs	(576)	(711)
Net carrying amount	70,666	70,531
2028 Notes
Debt Instrument [Line Items]
Principal	702,000	702,000
Unamortized issuance costs	(8,994)	(10,076)
Net carrying amount	$ 693,006	$ 691,924

Convertible Senior Notes - Su_2

Convertible Senior Notes - Summary of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt Disclosure [Abstract]
Contractual interest expense	$ 2,394	$ 970	$ 4,788	$ 1,940
Amortization of issuance costs	609	325	1,217	650
Total interest expense	$ 3,003	$ 1,295	$ 6,005	$ 2,590

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - 2014 Plan - Class A Common Stock - shares	Jun. 30, 2024	May 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares available for grant (in shares)		3,900,000
Number of shares available for grant (in shares)	5,212,217

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 25,402	$ 20,610	$ 48,409	$ 58,652
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	5,152	4,825	9,793	9,522
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	8,490	6,703	16,528	13,661
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	9,054	7,002	17,054	31,684
Subscription and support | Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	1,943	1,413	3,544	2,485
Professional services | Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 763	$ 667	$ 1,490	$ 1,300

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Options (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2024 $ / shares shares	Dec. 31, 2023 $ / shares shares
Options (in shares):
Outstanding beginning of the period (in shares) | shares	1,211,619
Granted (in shares) | shares	0
Forfeited (in shares) | shares	0
Expired (in shares) | shares	0
Exercised (in shares) | shares	(37,265)
Outstanding end of the period (in shares) | shares	1,174,354	1,211,619
Exercisable (in shares) | shares	1,174,354
Weighted-Average Exercise Price (in dollars per share):
Outstanding beginning of the period (in dollars per share) | $ / shares	$ 14.46
Granted (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Expired (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	15.87
Outstanding end of the period (in dollars per share) | $ / shares	14.41	$ 14.46
Exercisable (in dollars per share) | $ / shares	$ 14.41
Outstanding, weighted-average remaining contractual term (years)	1 year 9 months 18 days	2 years 3 months 18 days
Exercisable, weighted-average remaining contractual term (years)	1 year 9 months 18 days

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units and Performance Restricted Stock Units (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares subject to unvested restricted stock units and performance restricted stock units
Number of Shares (in shares)
Unvested at beginning of period (in shares)	2,198,411
Granted (in shares)	1,115,127
Forfeited (in shares)	(102,589)
Vested (in shares)	(705,626)
Unvested at end of period (in shares)	2,505,323
Weighted- Average Grant Date Fair Value (in dollars per share)
Unvested at beginning of period (in dollars per share) | $ / shares	$ 97.17
Granted (in dollars per share) | $ / shares	92.39
Forfeited (in dollars per share) | $ / shares	96.39
Vested (in dollars per share) | $ / shares	94.17
Unvested at end of period (in dollars per share) | $ / shares	$ 95.97
Restricted stock units
Weighted- Average Grant Date Fair Value (in dollars per share)
Number of vested shares recipient elected to defer settlement (in shares)	3,325
Number of vested shares recipients elected to defer settlement, released during period (in shares)	18,919

Stock-Based Compensation - Empl

Stock-Based Compensation - Employee Stock Purchase Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from shares issued in connection with employee stock purchase plan	$ 0	$ 0	$ 7,113	$ 5,546
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 200		$ 200
Unrecognized compensation expense, period for recognition (years)			12 days
Class A Common Stock | Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period (in shares)			88,047
Shares issued during period, weighted average price per share (in dollars per share)			$ 80.79
Proceeds from shares issued in connection with employee stock purchase plan			$ 7,100

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 177,503	$ 155,022	$ 353,170	$ 305,211
Subscription and support
Disaggregation of Revenue [Line Items]
Total revenue	160,735	136,772	315,714	266,436
XBRL professional services
Disaggregation of Revenue [Line Items]
Total revenue	14,027	14,431	31,620	31,164
Other services
Disaggregation of Revenue [Line Items]
Total revenue	$ 2,741	$ 3,819	$ 5,836	$ 7,611

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue and Transaction Price Allocated to the Remaining Performance Obligations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue recognized	$ 145.2	$ 122.5	$ 254.5	$ 212.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	994.6		994.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 543.7		$ 543.7
Expected period of recognition	12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected period of recognition	24 months		24 months

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Intangible Asset Components (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	6 years 9 months 18 days
Gross Carrying Amount	$ 47,954	$ 36,698
Accumulated Amortization	(16,421)	(13,806)
Net Carrying Amount	$ 31,533	22,892
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	4 years 8 months 12 days
Gross Carrying Amount	$ 26,261	15,949
Accumulated Amortization	(9,233)	(7,471)
Net Carrying Amount	$ 17,028	8,478
Acquired customer-related
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	10 years
Gross Carrying Amount	$ 16,319	15,427
Accumulated Amortization	(3,442)	(2,769)
Net Carrying Amount	$ 12,877	12,658
Acquired trade names
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	2 years 10 months 24 days
Gross Carrying Amount	$ 2,152	2,172
Accumulated Amortization	(1,781)	(1,721)
Net Carrying Amount	$ 371	451
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (Years)	10 years
Gross Carrying Amount	$ 3,222	3,150
Accumulated Amortization	(1,965)	(1,845)
Net Carrying Amount	$ 1,257	$ 1,305

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to intangible assets	$ 1.4	$ 1.5	$ 2.8	$ 3.1

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Amortization of Intangible Assets by Fiscal Year (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 3,830
2025	6,926
2026	5,606
2027	4,319
2028	3,885
Thereafter	6,967
Net Carrying Amount	$ 31,533	$ 22,892

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Goodwill Activity (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 112,097
Acquisition	89,410
Foreign currency translation adjustments	(2,305)
Goodwill, ending balance	$ 199,202

Net Loss Per Share - Earnings P

Net Loss Per Share - Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Denominator
Weighted-average common shares outstanding - basic (in shares)	55,177,162	54,009,963	55,046,507	53,850,986
Weighted-average common shares outstanding - diluted (in shares)	55,177,162	54,009,963	55,046,507	53,850,986
Basic net loss per share (in dollars per share)	$ (0.32)	$ (0.39)	$ (0.53)	$ (1.25)
Diluted net loss per share (in dollars per share)	$ (0.32)	$ (0.39)	$ (0.53)	$ (1.25)
Class A Common Stock
Numerator
Net loss, basic	$ (16,325)	$ (19,421)	$ (27,193)	$ (62,253)
Net loss, diluted	$ (16,325)	$ (19,421)	$ (27,193)	$ (62,253)
Denominator
Weighted-average common shares outstanding - basic (in shares)	51,331,579	50,164,380	51,200,924	49,990,734
Weighted-average common shares outstanding - diluted (in shares)	51,331,579	50,164,380	51,200,924	49,990,734
Basic net loss per share (in dollars per share)	$ (0.32)	$ (0.39)	$ (0.53)	$ (1.25)
Diluted net loss per share (in dollars per share)	$ (0.32)	$ (0.39)	$ (0.53)	$ (1.25)
Class B Common Stock
Numerator
Net loss, basic	$ (1,223)	$ (1,489)	$ (2,042)	$ (4,807)
Net loss, diluted	$ (1,223)	$ (1,489)	$ (2,042)	$ (4,807)
Denominator
Weighted-average common shares outstanding - basic (in shares)	3,845,583	3,845,583	3,845,583	3,860,252
Weighted-average common shares outstanding - diluted (in shares)	3,845,583	3,845,583	3,845,583	3,860,252
Basic net loss per share (in dollars per share)	$ (0.32)	$ (0.39)	$ (0.53)	$ (1.25)
Diluted net loss per share (in dollars per share)	$ (0.32)	$ (0.39)	$ (0.53)	$ (1.25)

Net Loss Per Share - Antidiluti

Net Loss Per Share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Shares subject to outstanding common stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,174,354	1,359,116
Shares subject to unvested restricted stock units and performance restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,505,323	2,261,742
Shares issuable pursuant to the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	96,271	96,892
Shares underlying our convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	6,132,025	4,304,082

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 17, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired		$ 98,280	$ 0	$ 98,280	$ 0
Sustain.Life
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired	$ 98,300
Cash acquired from acquisition	$ 300
Acquisition related costs		$ 1,100

Acquisitions - Assets Acquired

Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 17, 2024	Jun. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill		$ 199,202	$ 112,097
Sustain.Life
Business Acquisition [Line Items]
Cash consideration	$ 98,532
Total consideration	98,532
Cash	251
Accounts receivable, net	384
Other receivables	4,066
Prepaid expenses and other	239
Intangible assets	11,890
Goodwill	89,410
Accounts payable	(211)
Accrued liabilities	(5,194)
Deferred revenue	(1,042)
Other long-term liabilities	(1,261)
Fair value of assets and liabilities	$ 98,532

Subsequent Events (Details)

Subsequent Events (Details)	Jul. 30, 2024 USD ($)
Subsequent Event
Subsequent Event [Line Items]
Share repurchase program, authorized amount	$ 100,000,000